Irish economy remained in recession in Q2 2009; GNP fell 0.5% in quarter and 11.6% in year to June
Sep 24th, 2009 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
Initial estimates of Irish Gross Domestic Product (GDP) and Gross National Product (GNP) for Q2 - - the second quarter - - of 2009 show year on year declines in both measures. Compared with the corresponding quarter of 2008, GDP at constant prices was 7.4 per cent lower while GNP was 11.6 per cent lower. The CSO said today that on a quarterly basis the seasonally adjusted estimates show no change in GDP compared with the previous quarter while there was a small decline of 0.5% in GNP, signalling that the economy remained in recession.